| 24.03.2009 - Venezuela economy seen contracting unless oil rises |
| From Reuters: Without a sustained rise in oil prices, Venezuela's economy will stall or contract this year, especially after the spending cuts socialist President Hugo Chavez announced at the weekend. Chavez's liberal use of soaring oil revenues, soft credits and lower sales tax has endeared him to poorer supporters and fed a consumer boom in recent years. http://www.reuters.com/article/GCA-Oil/idUSTRE52M7QT20090323" target="_blank">Source |